1 00:00:00,040 --> 00:00:03,040 Speaker 1: Hey, everyone, welcome to another episode of The Mark Moss Show, 2 00:00:03,080 --> 00:00:08,200 Speaker 1: where I bring to the latest in bitcoin, cryptocurrencies, and 3 00:00:08,280 --> 00:00:12,400 Speaker 1: of course the giant decentralized revolution that's happening right in 4 00:00:12,640 --> 00:00:15,760 Speaker 1: front of your eyes. Now, you've probably all been here 5 00:00:15,800 --> 00:00:20,200 Speaker 1: in the whispers across the interwebs of what this bitcoin is, 6 00:00:20,440 --> 00:00:23,640 Speaker 1: what these cryptocurrencies are. You're hearing about all types of 7 00:00:23,680 --> 00:00:25,919 Speaker 1: things and n f t s and dog coins and 8 00:00:25,960 --> 00:00:29,880 Speaker 1: you don't know what's what. Um, maybe it's a scam, 9 00:00:29,880 --> 00:00:33,919 Speaker 1: maybe it's a ponzi, Maybe it's a fad, or maybe 10 00:00:34,640 --> 00:00:39,800 Speaker 1: just maybe this is the biggest thing that you'll ever see, 11 00:00:39,840 --> 00:00:41,559 Speaker 1: the biggest opportunity that you ever see in your life. 12 00:00:41,560 --> 00:00:44,920 Speaker 1: And of course that's what I believe. UM. I don't 13 00:00:44,960 --> 00:00:48,479 Speaker 1: just believe that blindly. I know that factually as a 14 00:00:48,479 --> 00:00:53,640 Speaker 1: student of history, as a lifelong investor, entrepreneur, and uh, 15 00:00:53,800 --> 00:00:55,640 Speaker 1: each and every week, I'm gonna bring to you the 16 00:00:55,680 --> 00:00:59,080 Speaker 1: information that I have learned along the way that I've 17 00:00:59,120 --> 00:01:01,880 Speaker 1: been studying or years and years and years, and I'm 18 00:01:01,920 --> 00:01:04,000 Speaker 1: going to share that with you. And you want to 19 00:01:04,040 --> 00:01:08,160 Speaker 1: know this information because I'm not being dramatic or over 20 00:01:08,160 --> 00:01:09,880 Speaker 1: the top here, but I literally mean this is going 21 00:01:09,920 --> 00:01:11,880 Speaker 1: to be the biggest opportunity that you'll ever see in 22 00:01:11,920 --> 00:01:14,959 Speaker 1: your lifetime, that you'll see in multiple generations. And as 23 00:01:15,000 --> 00:01:16,760 Speaker 1: I like to say, age and every week, this is 24 00:01:16,840 --> 00:01:21,240 Speaker 1: the largest, the best asymmetric opportunity. That means there's more 25 00:01:21,440 --> 00:01:23,480 Speaker 1: upside than downside. And the way that you benefit from 26 00:01:23,520 --> 00:01:27,760 Speaker 1: these asymmetric opportunities is by having asymmetric information. That means 27 00:01:27,760 --> 00:01:32,720 Speaker 1: you have information that most people don't have. Now, when 28 00:01:32,760 --> 00:01:34,840 Speaker 1: you have information that most people don't have, you have 29 00:01:34,880 --> 00:01:38,720 Speaker 1: an edge. As an investor, as a business person, you 30 00:01:38,840 --> 00:01:43,120 Speaker 1: need an edge. Otherwise, if everybody knows the same thing, 31 00:01:43,280 --> 00:01:45,360 Speaker 1: there's no edge, there's no alpha, there's no way for 32 00:01:45,400 --> 00:01:48,960 Speaker 1: you to get a better return. Right. If you're an athlete, 33 00:01:49,680 --> 00:01:51,440 Speaker 1: you want to have an edge on your competition, right, 34 00:01:51,440 --> 00:01:54,040 Speaker 1: so you study your competition to find their weaknesses and 35 00:01:54,080 --> 00:01:55,880 Speaker 1: where you can you have strength or at the edge. 36 00:01:55,920 --> 00:01:59,600 Speaker 1: And so the edge isn't having the information that most 37 00:01:59,600 --> 00:02:04,520 Speaker 1: people don't have. Now. I have been studying this, I've 38 00:02:04,560 --> 00:02:07,800 Speaker 1: been researching it and I've been writing about it since 39 00:02:07,880 --> 00:02:11,760 Speaker 1: two thousand and fifteen, it's about six years now. UM. 40 00:02:11,800 --> 00:02:15,520 Speaker 1: I have been a lifelong investor. I invested through the 41 00:02:15,600 --> 00:02:18,560 Speaker 1: dot com bubble and and on. I started to eat 42 00:02:18,919 --> 00:02:22,400 Speaker 1: internet business. I have a fortune, so I have the perspective. 43 00:02:22,440 --> 00:02:24,200 Speaker 1: I've been doing it. I've been studying this for a 44 00:02:24,200 --> 00:02:28,519 Speaker 1: long time. I've personally researched and published over a thousand 45 00:02:28,680 --> 00:02:34,320 Speaker 1: pages of research on cryptocurrencies, and so I have an edge. 46 00:02:34,800 --> 00:02:36,960 Speaker 1: I've made a lot of money in this space because 47 00:02:37,040 --> 00:02:39,480 Speaker 1: i have an edge, because I've been doing this for 48 00:02:39,520 --> 00:02:42,160 Speaker 1: a long time. I have you know, I have a 49 00:02:42,240 --> 00:02:45,000 Speaker 1: radio show now, and I have access to the smartest 50 00:02:45,200 --> 00:02:48,240 Speaker 1: people in the space. I mean, I'm talking the builders, 51 00:02:48,560 --> 00:02:51,800 Speaker 1: the doers, the investors. I'm talking the smartest people in 52 00:02:51,800 --> 00:02:53,680 Speaker 1: the space. And I talked to him on a regular basis. 53 00:02:53,720 --> 00:02:56,360 Speaker 1: They're my friends. We chat on the phone. I had 54 00:02:56,400 --> 00:02:59,560 Speaker 1: dinner with him, a couple of them last night. I 55 00:02:59,600 --> 00:03:01,960 Speaker 1: have an edge. I have information that most people don't have. 56 00:03:02,680 --> 00:03:06,320 Speaker 1: But guess what, you can have that edge too. You 57 00:03:06,360 --> 00:03:08,760 Speaker 1: can hang out with me each end every week right 58 00:03:08,760 --> 00:03:11,880 Speaker 1: here on this radio show, and I'm gonna tell you 59 00:03:12,600 --> 00:03:15,480 Speaker 1: what the smartest people in the space, my friends are 60 00:03:15,520 --> 00:03:19,080 Speaker 1: telling me the conversation that we're having, and so my 61 00:03:19,280 --> 00:03:21,360 Speaker 1: edge is your edge. As long as you stay with me, 62 00:03:21,560 --> 00:03:24,240 Speaker 1: it's gonna be the most profitable time of your week. 63 00:03:24,760 --> 00:03:26,680 Speaker 1: So pull ut your phone, put a reminder is at 64 00:03:26,680 --> 00:03:30,079 Speaker 1: this time, this date, this channel the station on your phone, 65 00:03:30,639 --> 00:03:34,079 Speaker 1: and do not miss it because it's gonna be that big. 66 00:03:34,080 --> 00:03:36,600 Speaker 1: Now we're talking about bitcoin, we're talking about cryptocurrencies in 67 00:03:36,640 --> 00:03:41,040 Speaker 1: this decentralized revolution and and the wealth transfer that's happening. 68 00:03:41,120 --> 00:03:45,800 Speaker 1: And you know, I like to talk about why it's 69 00:03:45,800 --> 00:03:49,520 Speaker 1: important because you need to understand how big it can 70 00:03:49,600 --> 00:03:54,200 Speaker 1: be and when it can get there, like what are 71 00:03:54,200 --> 00:03:56,920 Speaker 1: the markets that's disrupting, how much value can it pull? 72 00:03:57,000 --> 00:03:59,360 Speaker 1: How much can it change our life? Um? And that 73 00:03:59,400 --> 00:04:01,640 Speaker 1: helps us set like this target of where it can go, 74 00:04:02,440 --> 00:04:05,320 Speaker 1: and then we want to pay attention to that target 75 00:04:05,440 --> 00:04:07,920 Speaker 1: to make sure that it's still in play, right, it's 76 00:04:07,920 --> 00:04:11,800 Speaker 1: still in progress. And so that's what we do each week. 77 00:04:11,920 --> 00:04:14,240 Speaker 1: You know, I'm going to continue to let you know 78 00:04:14,360 --> 00:04:17,240 Speaker 1: why it's so big. You know, how big it can be, UM, 79 00:04:17,279 --> 00:04:19,640 Speaker 1: the industries that can disrupt, all those all those super 80 00:04:19,680 --> 00:04:21,760 Speaker 1: fun things. And then each and every week we want 81 00:04:21,760 --> 00:04:23,760 Speaker 1: to pay attention to those things to make sure that 82 00:04:23,880 --> 00:04:27,360 Speaker 1: it is still on track. UM. And so we're doing 83 00:04:27,400 --> 00:04:30,640 Speaker 1: that now. UM as far as the price goes, you know, 84 00:04:30,680 --> 00:04:34,479 Speaker 1: we're gonna talk about the price. We this is the 85 00:04:34,520 --> 00:04:37,840 Speaker 1: first show of the month of November, and the bitcoin price, 86 00:04:37,839 --> 00:04:41,039 Speaker 1: which of course leads the entire cryptocurrency space, closed at 87 00:04:41,080 --> 00:04:44,320 Speaker 1: an all time high last month and November the highest 88 00:04:44,360 --> 00:04:47,400 Speaker 1: point it's ever crossed. And so that is a very 89 00:04:47,600 --> 00:04:52,279 Speaker 1: bullish sign on the market. You know. And bitcoin is 90 00:04:52,360 --> 00:04:55,599 Speaker 1: now over a trillion dollar it's about I think one 91 00:04:55,600 --> 00:04:59,800 Speaker 1: point one one point one five trillion dollar market cap. 92 00:04:59,839 --> 00:05:01,480 Speaker 1: As a matter of fact, it's you know, one point 93 00:05:01,520 --> 00:05:05,760 Speaker 1: one five and uh, it's massive, it's massive. It's it's 94 00:05:05,800 --> 00:05:10,000 Speaker 1: it's a legitimate asset. The entire cryptocurrency market cap is 95 00:05:10,040 --> 00:05:14,720 Speaker 1: up to about uh two point six trillion dollars, which 96 00:05:14,800 --> 00:05:17,520 Speaker 1: is again massive, It's it's a it's legit, right, it's 97 00:05:17,640 --> 00:05:22,640 Speaker 1: legit now. And I was saying before, uh, you know, 98 00:05:22,880 --> 00:05:25,720 Speaker 1: I've been looking at and thinking about the price, and um, 99 00:05:25,839 --> 00:05:27,280 Speaker 1: you know, I like to say that the price is 100 00:05:27,279 --> 00:05:29,640 Speaker 1: a little bit of a distraction. But I like to 101 00:05:29,680 --> 00:05:32,920 Speaker 1: say that the price, while it's a distraction, while while 102 00:05:33,040 --> 00:05:35,320 Speaker 1: I do not believe that it's something that you should 103 00:05:35,360 --> 00:05:40,159 Speaker 1: be focused on, and I'll explain to you why. What 104 00:05:40,240 --> 00:05:42,760 Speaker 1: I do think though, is that bitcoin and cryptocurrencies, and 105 00:05:42,760 --> 00:05:47,159 Speaker 1: bitcoin specifically is a bait and switch. I have a 106 00:05:47,279 --> 00:05:49,120 Speaker 1: have a tweet that went viral saying that kind of 107 00:05:49,160 --> 00:05:51,960 Speaker 1: same thing. It's on my email newsletter. The bitcoin is 108 00:05:52,000 --> 00:05:54,560 Speaker 1: a bait and switch. It sucks people in on the price, 109 00:05:54,880 --> 00:05:56,960 Speaker 1: hoping to get rich, hoping to make a bunch of money, 110 00:05:57,240 --> 00:06:01,919 Speaker 1: and then it switches them into realizing that bitcoin is 111 00:06:02,000 --> 00:06:05,880 Speaker 1: the greatest invention, the greatest innovation, the greatest technological revolution 112 00:06:05,880 --> 00:06:10,080 Speaker 1: that will ever see that will literally change the way 113 00:06:10,279 --> 00:06:14,480 Speaker 1: humanity works for the better, for the better. Um, throughout history, 114 00:06:14,680 --> 00:06:16,479 Speaker 1: as far back as you go, it's just a cycle 115 00:06:16,560 --> 00:06:21,559 Speaker 1: of of oppression, revolution and freedom and then oppression, revolution, freedom. 116 00:06:21,600 --> 00:06:23,680 Speaker 1: It just repeats over and over and over and um. 117 00:06:23,720 --> 00:06:27,040 Speaker 1: You know, man, humans want to take control over systems 118 00:06:27,080 --> 00:06:30,400 Speaker 1: and manipulate them, and it creates distortions in the market, 119 00:06:30,520 --> 00:06:33,159 Speaker 1: and we print all kinds of money and then people 120 00:06:33,320 --> 00:06:37,280 Speaker 1: get enslaved. Um. Maybe if you don't want to use 121 00:06:37,279 --> 00:06:40,440 Speaker 1: that word today, just think about you know, oppressed, Think 122 00:06:40,440 --> 00:06:43,080 Speaker 1: about all the people whose businesses got forced to shut 123 00:06:43,160 --> 00:06:45,880 Speaker 1: down and people that can't go to work today. You know, 124 00:06:46,160 --> 00:06:48,760 Speaker 1: um that that type of oppression it's created. You know, 125 00:06:48,800 --> 00:06:52,080 Speaker 1: supply chain backups that how have today, you know, prices 126 00:06:52,080 --> 00:06:55,400 Speaker 1: shooting through the moon. Of course, you know the people 127 00:06:55,480 --> 00:06:58,760 Speaker 1: that be in power, the leaders that be today gaslighting 128 00:06:58,839 --> 00:07:03,640 Speaker 1: you saying it's you're not really seen inflation. Uh, it's 129 00:07:03,680 --> 00:07:07,120 Speaker 1: not really a problem. Um, and it's it's it's all 130 00:07:07,200 --> 00:07:11,640 Speaker 1: gonna go away. Well, if you go fill up your 131 00:07:11,760 --> 00:07:14,120 Speaker 1: car with gas, or you go buy some food at 132 00:07:14,120 --> 00:07:17,600 Speaker 1: the grocery store, you realize that prices are going higher 133 00:07:17,640 --> 00:07:21,560 Speaker 1: and it is a problem. And so bitcoin can fix that. 134 00:07:21,800 --> 00:07:25,960 Speaker 1: Bitcoin can fix the entire incentive structure to the entire world, 135 00:07:27,480 --> 00:07:31,680 Speaker 1: making it a much more peaceful, much more friendly place. 136 00:07:32,040 --> 00:07:33,960 Speaker 1: And so it's that big. It's gonna change many and 137 00:07:34,040 --> 00:07:36,760 Speaker 1: so um, that's what we're focused on. But again, the 138 00:07:36,800 --> 00:07:39,280 Speaker 1: price is that bait and switch baits you in with 139 00:07:39,360 --> 00:07:42,600 Speaker 1: the price switch it to the greatest tool for human 140 00:07:42,800 --> 00:07:45,880 Speaker 1: freedom and flourishment that the world has ever seen. But 141 00:07:46,000 --> 00:07:48,720 Speaker 1: going back to the price for a minute. Um again, 142 00:07:48,760 --> 00:07:50,760 Speaker 1: because it's the bait, going back to the price for 143 00:07:50,800 --> 00:07:52,440 Speaker 1: a minute. Like I said, we closed the month at 144 00:07:52,600 --> 00:07:56,160 Speaker 1: at all time high, and the network continues to go 145 00:07:56,360 --> 00:07:59,480 Speaker 1: higher and higher and higher. Now I think it was 146 00:07:59,560 --> 00:08:02,720 Speaker 1: twenty seventeen, the biggest bank right, the most powerful bank 147 00:08:02,760 --> 00:08:06,000 Speaker 1: in the United States. I'm talking about JP Morgan. Chase 148 00:08:06,640 --> 00:08:09,720 Speaker 1: Um and Jamie Diamond is the president of the bank, 149 00:08:09,800 --> 00:08:13,440 Speaker 1: the CEO of of JP Morgan. In seen, he said 150 00:08:13,480 --> 00:08:17,040 Speaker 1: that bitcoin is a scam, it's a fraud, and he 151 00:08:17,080 --> 00:08:20,720 Speaker 1: would never, ever, ever, ever think about buying bitcoin. As 152 00:08:20,760 --> 00:08:22,520 Speaker 1: a matter of fact, he went on to say some 153 00:08:22,640 --> 00:08:24,640 Speaker 1: harsh things, even harsher than that, and went on to 154 00:08:24,680 --> 00:08:30,040 Speaker 1: say that if anybody from JP Morgan even traded bitcoin, 155 00:08:30,240 --> 00:08:35,800 Speaker 1: he would fire them. What. That's pretty harsh, right, That's 156 00:08:35,800 --> 00:08:38,400 Speaker 1: it's super harsh. That's what he said. Um. It makes 157 00:08:38,400 --> 00:08:39,800 Speaker 1: me think of this quote. I think it was gone 158 00:08:39,800 --> 00:08:41,920 Speaker 1: to who said, you know what, at first ignore you, 159 00:08:42,400 --> 00:08:45,880 Speaker 1: then they laugh at you, then they fight you, and 160 00:08:45,920 --> 00:08:48,160 Speaker 1: then they joined you. And that's kind of what we've 161 00:08:48,160 --> 00:08:49,960 Speaker 1: seen with JP Morgan, Like I said, probably the most 162 00:08:50,000 --> 00:08:53,280 Speaker 1: influential bank in the United States. Um will fire anybody 163 00:08:53,320 --> 00:08:56,880 Speaker 1: if they even trade bitcoin. That's what he said. Um, 164 00:08:57,040 --> 00:09:01,600 Speaker 1: but that was my my My things have changed. As 165 00:09:01,600 --> 00:09:05,400 Speaker 1: a matter of fact. JP Morgan just put out some 166 00:09:05,440 --> 00:09:08,680 Speaker 1: new guidance this week of where they think bitcoin could 167 00:09:08,760 --> 00:09:13,040 Speaker 1: go and why it could go there and how fast 168 00:09:13,080 --> 00:09:16,280 Speaker 1: it could go. And you will not believe the price 169 00:09:16,520 --> 00:09:20,840 Speaker 1: that they have pegged onto bitcoin and again, um, why 170 00:09:20,920 --> 00:09:22,640 Speaker 1: they think it can get there, How they can get 171 00:09:22,720 --> 00:09:25,480 Speaker 1: get there? Um. And so we went from JP Morgan 172 00:09:25,559 --> 00:09:28,200 Speaker 1: saying I'll fire anybody who buys it, and now JP 173 00:09:28,280 --> 00:09:30,400 Speaker 1: Morgan is advising their clients, I'm gonna tell you where 174 00:09:30,400 --> 00:09:32,000 Speaker 1: that price is going to go when we get back. 175 00:09:32,200 --> 00:09:35,000 Speaker 1: You're listening to the Mark mass Show. I'm talking about bitcoin, 176 00:09:35,040 --> 00:09:38,119 Speaker 1: I'm talking about cryptocurrencies. I'm talking about the decentralized Revolution, 177 00:09:38,600 --> 00:09:41,640 Speaker 1: and I will be right back. All right, welcome back. 178 00:09:41,679 --> 00:09:44,320 Speaker 1: You are listening to the Mark ma Show, and we're 179 00:09:44,360 --> 00:09:49,000 Speaker 1: talking about bitcoin and cryptocurrencies and the decentralized revolution, bringing 180 00:09:49,040 --> 00:09:53,120 Speaker 1: you the latest information each and every week so you 181 00:09:53,160 --> 00:09:55,640 Speaker 1: can profit from the greatest opportunity that you'll ever see 182 00:09:55,679 --> 00:09:59,000 Speaker 1: in your lifetime multiple generations. Now, before we went on 183 00:09:59,120 --> 00:10:01,480 Speaker 1: the last break, if you were still with me, we 184 00:10:01,480 --> 00:10:04,720 Speaker 1: were talking about how the price is a distraction when 185 00:10:04,760 --> 00:10:07,679 Speaker 1: you're investing in new technology. The prices distraction, however, it's 186 00:10:07,679 --> 00:10:09,560 Speaker 1: a bait and switch. It baits us in on the 187 00:10:09,559 --> 00:10:12,120 Speaker 1: price of hopes of making a bunch of money and 188 00:10:12,200 --> 00:10:13,959 Speaker 1: having all our dreams come true and being able to 189 00:10:13,960 --> 00:10:15,760 Speaker 1: buy all those things that we want, and then it 190 00:10:15,840 --> 00:10:21,640 Speaker 1: switches us into the greatest tool for human freedom and peace, uh, 191 00:10:21,679 --> 00:10:24,920 Speaker 1: that we've ever seen. Um. But you know, because the 192 00:10:24,960 --> 00:10:26,720 Speaker 1: prices the bait, We're going to talk about that. And 193 00:10:26,720 --> 00:10:30,920 Speaker 1: I was saying that JP Morgan chased the largest most 194 00:10:30,960 --> 00:10:33,520 Speaker 1: influential bank in the United States, and the CEO, Jimmy 195 00:10:33,520 --> 00:10:36,800 Speaker 1: diamond back In said that bitcoin is such a scam 196 00:10:36,840 --> 00:10:38,160 Speaker 1: that he would never buy it, he would never do 197 00:10:38,200 --> 00:10:41,040 Speaker 1: anything with it, and even if anybody in JP Morgan 198 00:10:41,160 --> 00:10:43,720 Speaker 1: were to trade it, he would fire them, which was 199 00:10:44,080 --> 00:10:48,800 Speaker 1: a pretty extreme, but that's what he said. Um, and my, my, my, 200 00:10:49,080 --> 00:10:52,160 Speaker 1: have they changed their minds? They have changed their minds. 201 00:10:52,160 --> 00:10:55,120 Speaker 1: And of course they have because the bitcoin network has 202 00:10:55,120 --> 00:10:58,160 Speaker 1: continue to grow and it's continued to take over more 203 00:10:58,200 --> 00:11:00,600 Speaker 1: and more market share. And as I said before I 204 00:11:00,600 --> 00:11:01,760 Speaker 1: went on the break, I think it was gone to 205 00:11:01,840 --> 00:11:04,800 Speaker 1: who said that. First they ignore you, so you know 206 00:11:04,960 --> 00:11:09,080 Speaker 1: bitcoin from nine two thousand, two thousand eleven, nobody pay attention. 207 00:11:09,360 --> 00:11:12,840 Speaker 1: Then they laugh at you, you know two thousand ah 208 00:11:13,040 --> 00:11:14,840 Speaker 1: ha ha ha. These people think they can create their 209 00:11:14,840 --> 00:11:17,439 Speaker 1: own money. That's so funny. Um. Then they then they 210 00:11:17,440 --> 00:11:21,280 Speaker 1: fight you, right, So then we have two seventeen two eighteen. Uh, 211 00:11:21,320 --> 00:11:23,880 Speaker 1: they fight it. Jimmy Diamond says, we'll fire anybody who 212 00:11:23,920 --> 00:11:27,800 Speaker 1: does anything with it, fight it, and then finally they 213 00:11:27,880 --> 00:11:31,720 Speaker 1: join you. And that's where we are today two. Everybody 214 00:11:31,920 --> 00:11:34,320 Speaker 1: is joining bitcoin and force. We like to say in 215 00:11:34,360 --> 00:11:38,280 Speaker 1: the space that everybody will buy at the price they deserve. 216 00:11:40,080 --> 00:11:42,160 Speaker 1: Just think about that for a man, and just marinate 217 00:11:42,240 --> 00:11:44,120 Speaker 1: on that for a minute. Everyone will buy at the 218 00:11:44,160 --> 00:11:48,040 Speaker 1: price they deserve. And that just means that eventually everybody 219 00:11:48,080 --> 00:11:51,040 Speaker 1: is going to be forced to capitulate. Eventually everybody is 220 00:11:51,040 --> 00:11:54,400 Speaker 1: going to be forced to buy. And uh, you know, 221 00:11:54,600 --> 00:11:57,320 Speaker 1: your life is made up of the choices that you make. 222 00:11:57,920 --> 00:12:00,080 Speaker 1: That's what That's what makes up your life. And you 223 00:12:00,120 --> 00:12:03,480 Speaker 1: have the choice. You can buy now at this price, 224 00:12:04,400 --> 00:12:07,160 Speaker 1: or you could listen to the people like Jamie Diamond 225 00:12:07,160 --> 00:12:10,280 Speaker 1: who changed their mind and not buy and then you 226 00:12:10,400 --> 00:12:13,000 Speaker 1: just buy later at the price you deserve. And that 227 00:12:13,080 --> 00:12:16,040 Speaker 1: might be uh, when it's ten x from here and 228 00:12:16,080 --> 00:12:18,960 Speaker 1: you get to decide. But of course Jamie Diamond, JP 229 00:12:19,080 --> 00:12:21,760 Speaker 1: Morgan Chase has changed their mind on that, and they 230 00:12:21,800 --> 00:12:23,640 Speaker 1: don't want to buy at a higher price. They want 231 00:12:23,640 --> 00:12:25,280 Speaker 1: to buy the price they deserve. What they think is now, 232 00:12:25,840 --> 00:12:28,440 Speaker 1: and so they've renewed their target. And just this week 233 00:12:28,559 --> 00:12:31,280 Speaker 1: JP Morgan came out UM and they came out with 234 00:12:31,360 --> 00:12:34,800 Speaker 1: a price target of a hundred and forty six thousand 235 00:12:34,840 --> 00:12:38,960 Speaker 1: dollars for bitcoin. Now, a lot of people ask me 236 00:12:39,000 --> 00:12:42,200 Speaker 1: all the time, you know, Um, should I buy bitcoin? 237 00:12:42,679 --> 00:12:45,080 Speaker 1: Is it expense? Is it too expensive? Should I wait 238 00:12:45,120 --> 00:12:49,320 Speaker 1: for a dip? Should I wait? Right? The thing is 239 00:12:49,320 --> 00:12:55,160 Speaker 1: is that is it too expensive? Well? Too expensive relative 240 00:12:55,200 --> 00:12:59,920 Speaker 1: to what? Is it too expensive? Is bitcoin expensive RelA 241 00:13:00,080 --> 00:13:02,720 Speaker 1: to when it was ten cents? Well, heck, yeah, of 242 00:13:02,760 --> 00:13:05,440 Speaker 1: course it is. That's sixty now. Of course it's expensive. 243 00:13:06,280 --> 00:13:08,720 Speaker 1: But is it expensive compared to where it could be 244 00:13:08,720 --> 00:13:11,439 Speaker 1: in the future. So if bitcoin could be a hundred 245 00:13:11,480 --> 00:13:14,920 Speaker 1: and fifty thousand dollars, is it is it expensive or cheap? 246 00:13:15,160 --> 00:13:17,280 Speaker 1: We'll shoot. If I can buy an acid for fifty thousand, 247 00:13:17,320 --> 00:13:19,200 Speaker 1: that's gonna be worth a hundred fifty I'll do that 248 00:13:19,360 --> 00:13:23,840 Speaker 1: all day long. So it's cheap, right, And so JPMorgan 249 00:13:23,920 --> 00:13:27,320 Speaker 1: this week they said that they have renewed their price 250 00:13:27,360 --> 00:13:31,200 Speaker 1: target for bitcoin a hundred forty six thousand dollars and 251 00:13:31,200 --> 00:13:34,360 Speaker 1: they say that UM the bank says bitcoin is increasingly 252 00:13:34,400 --> 00:13:37,720 Speaker 1: looking like a digital alternative to gold in the eyes 253 00:13:38,000 --> 00:13:41,480 Speaker 1: of investors. It went on to say that it said 254 00:13:41,480 --> 00:13:46,480 Speaker 1: cryptos are quote an emerging asset class on a multi 255 00:13:46,600 --> 00:13:51,840 Speaker 1: year structural up trend. And so, um wow, that that 256 00:13:51,960 --> 00:13:55,080 Speaker 1: really went from a fighting fighting us to join us 257 00:13:55,080 --> 00:13:58,920 Speaker 1: pretty quickly, didn't it. Um. And so they said that, um, 258 00:13:59,040 --> 00:14:01,199 Speaker 1: you know, they think that coin surges to a hundred 259 00:14:01,280 --> 00:14:04,120 Speaker 1: forty six thousand dollars. That's about a hundred and thirty 260 00:14:04,760 --> 00:14:07,719 Speaker 1: or more. It's about a hundred and don't almost a 261 00:14:07,760 --> 00:14:11,839 Speaker 1: hundred and fifty percent above today's price. Now, what is 262 00:14:11,880 --> 00:14:14,480 Speaker 1: a hundred and fifty percent? Well, let's just put this 263 00:14:14,520 --> 00:14:17,920 Speaker 1: into perspective. Now we're at this weird point in time 264 00:14:17,960 --> 00:14:22,880 Speaker 1: where everybody's out there gambling today. Um, you know, I've 265 00:14:22,920 --> 00:14:27,560 Speaker 1: been helping investors for decades, and uh, you know, I've 266 00:14:27,640 --> 00:14:29,520 Speaker 1: just never seen people coming into the space with these 267 00:14:29,520 --> 00:14:32,920 Speaker 1: expectations they have today. Um, I see people coming in 268 00:14:33,000 --> 00:14:35,560 Speaker 1: and if I can't make ten times my money this year, 269 00:14:35,680 --> 00:14:39,080 Speaker 1: and I'm like, what make ten times your money this year? 270 00:14:39,080 --> 00:14:41,000 Speaker 1: But that's kind of the expectations of some people to have. 271 00:14:41,080 --> 00:14:43,560 Speaker 1: But um, per JP Morgan, they said that the price 272 00:14:43,560 --> 00:14:46,920 Speaker 1: of bitcoin could go up a hundred and fifty percent. Now, 273 00:14:46,960 --> 00:14:50,840 Speaker 1: so let me put this into perspective for you. Traditionally, people, 274 00:14:51,080 --> 00:14:53,920 Speaker 1: if you go to your financial advisor, you know, you 275 00:14:53,960 --> 00:14:57,920 Speaker 1: go to your child Schwab advisor or whatever you go to, Well, 276 00:14:58,360 --> 00:15:00,640 Speaker 1: they're going to tell you to do a sixty already split, 277 00:15:00,680 --> 00:15:05,280 Speaker 1: put sixty into stocks and put into bonds, and just 278 00:15:05,440 --> 00:15:07,920 Speaker 1: stay in the market. Over the long run, you're gonna 279 00:15:07,920 --> 00:15:10,400 Speaker 1: make a lot of money. It's not timing the market. 280 00:15:10,440 --> 00:15:15,120 Speaker 1: It's time in the market. Well, the market time, time 281 00:15:15,120 --> 00:15:16,840 Speaker 1: in the market. If you've been in the SMP five, 282 00:15:17,480 --> 00:15:19,800 Speaker 1: the biggest stock market in the United States, um, you 283 00:15:19,840 --> 00:15:22,280 Speaker 1: would have average depending on what time frame you're looking at, 284 00:15:22,320 --> 00:15:24,680 Speaker 1: sixty years, eighty years, you would have looked at somewhere 285 00:15:24,680 --> 00:15:29,680 Speaker 1: between a six to eight percent return. Six to eight percent. 286 00:15:29,920 --> 00:15:34,280 Speaker 1: Now that's not bad, that's not bad. You know, every 287 00:15:34,360 --> 00:15:37,320 Speaker 1: seven eight years you double your money. I mean you 288 00:15:37,400 --> 00:15:40,040 Speaker 1: do that, you know, you double it for years in 289 00:15:40,040 --> 00:15:41,920 Speaker 1: a row. You end up with a pretty good nest eig. 290 00:15:42,320 --> 00:15:44,440 Speaker 1: And that's why it's about timing, you know, getting in 291 00:15:44,480 --> 00:15:47,240 Speaker 1: the market now, allowing that power of compounding to grow. 292 00:15:47,840 --> 00:15:52,000 Speaker 1: But that's six percent or eight percent to ap Morgan saying, 293 00:15:52,000 --> 00:15:56,960 Speaker 1: you could make a hundred and fifty percent, So fifties 294 00:15:57,240 --> 00:15:59,760 Speaker 1: is better than six or eight percent. And so guess 295 00:15:59,760 --> 00:16:02,120 Speaker 1: what happens. A lot of people are going to take that, 296 00:16:02,440 --> 00:16:04,880 Speaker 1: and then it becomes like the self fulfilling prophecy. So 297 00:16:05,120 --> 00:16:07,760 Speaker 1: the more people that jump in, the faster it goes up, 298 00:16:08,640 --> 00:16:10,880 Speaker 1: then it drags more people, and the faster it goes up, 299 00:16:10,920 --> 00:16:13,960 Speaker 1: and on and on and on. Now, JP morgan Um 300 00:16:14,400 --> 00:16:18,920 Speaker 1: says that they think one of probably the hundred or 301 00:16:18,920 --> 00:16:23,160 Speaker 1: so reasons why it can go up is two things. One, 302 00:16:23,560 --> 00:16:27,600 Speaker 1: they said that it's it's a scarce product. It's a 303 00:16:27,640 --> 00:16:31,120 Speaker 1: scarce product, so it's it's scarcity, right, so value is 304 00:16:31,280 --> 00:16:35,880 Speaker 1: really given to things that are scarce. Economics are driven 305 00:16:35,880 --> 00:16:39,920 Speaker 1: by supply and demand. The more demand there is but 306 00:16:40,160 --> 00:16:43,680 Speaker 1: less supply, that creates scarcity. More people want something that 307 00:16:43,760 --> 00:16:46,880 Speaker 1: there is something available, and naturally, of course it drives 308 00:16:46,920 --> 00:16:51,040 Speaker 1: the price up. Um, the more supply there is and 309 00:16:51,080 --> 00:16:54,080 Speaker 1: the less demand, then the price goes down. Right, It's 310 00:16:54,240 --> 00:16:58,880 Speaker 1: it's it's pretty basic. Now, your um, your leaders, your 311 00:16:58,920 --> 00:17:02,240 Speaker 1: financial leaders, your economists, the Federal Reserve. They don't want 312 00:17:02,240 --> 00:17:05,240 Speaker 1: you to understand that. They wanted to be some crazy 313 00:17:05,320 --> 00:17:08,679 Speaker 1: complicated uh, you know thing in the head that you 314 00:17:08,720 --> 00:17:11,439 Speaker 1: have to know the velocity of money, and you have 315 00:17:11,480 --> 00:17:13,840 Speaker 1: to know all these things. Um. But now it's just 316 00:17:13,880 --> 00:17:16,280 Speaker 1: applying to man. The more people that want something and 317 00:17:16,320 --> 00:17:18,480 Speaker 1: the less there is of it, the price goes up. 318 00:17:18,920 --> 00:17:22,199 Speaker 1: And that's why, um. The Fiat money system, the system 319 00:17:22,240 --> 00:17:24,959 Speaker 1: that the central banks do use, which is they print 320 00:17:25,080 --> 00:17:30,000 Speaker 1: an unlimited amount of money. UM, then that's why there's 321 00:17:30,000 --> 00:17:33,240 Speaker 1: no value there. That's why it continues to lose value. Again, 322 00:17:33,320 --> 00:17:36,600 Speaker 1: back to scarcity. So JP Morgan says, it's a scarce product, 323 00:17:36,600 --> 00:17:38,639 Speaker 1: but there's something that they are comparing it to. As 324 00:17:38,640 --> 00:17:41,080 Speaker 1: a matter of fact, it's the uh such the largest 325 00:17:41,119 --> 00:17:43,240 Speaker 1: asset class, but it's one of the oldest asset class 326 00:17:43,240 --> 00:17:44,919 Speaker 1: in the world. They say that it compares to I 327 00:17:44,920 --> 00:17:47,240 Speaker 1: want to tell you about that because if you understand 328 00:17:47,960 --> 00:17:51,200 Speaker 1: that market that JP Morgan says is uh is a 329 00:17:51,240 --> 00:17:54,399 Speaker 1: good analog to bitcoin, then you'll really understand what the 330 00:17:54,440 --> 00:17:56,240 Speaker 1: value is and where it's going. So I want to 331 00:17:56,280 --> 00:17:58,080 Speaker 1: tell you what that is and how we can draw 332 00:17:58,119 --> 00:18:00,600 Speaker 1: a comparison to that. But the way you're listening to 333 00:18:00,640 --> 00:18:02,880 Speaker 1: the Mark Moa show, we're talking about bitcoin, we're talking 334 00:18:02,880 --> 00:18:07,560 Speaker 1: about cryptocurrencies, and the decentralized Revolution, helping you navigate the 335 00:18:07,680 --> 00:18:12,160 Speaker 1: greatest wealth transfer you will ever see. The Mark Ma Show, 336 00:18:12,359 --> 00:18:15,840 Speaker 1: and I will be right back, all right, welcome back. 337 00:18:15,880 --> 00:18:18,199 Speaker 1: You are listening to the Markma Show talking about bitcoin 338 00:18:18,240 --> 00:18:23,199 Speaker 1: and cryptocurrencies and the decentralized Revolution. I'm here each and 339 00:18:23,240 --> 00:18:25,920 Speaker 1: every week giving you the information that you need so 340 00:18:26,040 --> 00:18:28,879 Speaker 1: you can stay in this thing. You can stay in 341 00:18:28,880 --> 00:18:32,040 Speaker 1: this thing now. Um, you know what when I say 342 00:18:32,160 --> 00:18:34,439 Speaker 1: stay in this thing, what do I mean by that? Well, 343 00:18:35,640 --> 00:18:37,800 Speaker 1: you know, if you if you bought bitcoin in two 344 00:18:37,880 --> 00:18:40,280 Speaker 1: thousand and ten when it was ten cents um, you 345 00:18:40,280 --> 00:18:42,320 Speaker 1: probably would have sold it a dollar. That would have 346 00:18:42,320 --> 00:18:43,960 Speaker 1: been the best trade of your life. Or you would 347 00:18:44,000 --> 00:18:45,399 Speaker 1: have sold it ten dollars. You would have sold it 348 00:18:45,440 --> 00:18:47,120 Speaker 1: a hunt it dollar. Right, at some point you would 349 00:18:47,119 --> 00:18:49,879 Speaker 1: have sold The only way that you would have been 350 00:18:49,920 --> 00:18:53,159 Speaker 1: able to really really get rich is to stay in it. 351 00:18:53,680 --> 00:18:55,719 Speaker 1: But of course it's hard because the price goes up 352 00:18:55,720 --> 00:18:57,679 Speaker 1: and down, and you hear all these different things, and 353 00:18:57,720 --> 00:19:00,680 Speaker 1: so you have to stay up on news and stay 354 00:19:00,760 --> 00:19:02,959 Speaker 1: up on the development in order to stay in it. 355 00:19:03,000 --> 00:19:05,240 Speaker 1: Otherwise you get shaken out of your position. You don't 356 00:19:05,240 --> 00:19:07,520 Speaker 1: want to get shaken any position. Early, and so that's 357 00:19:07,520 --> 00:19:10,160 Speaker 1: what we're talking about now. I was talking about how 358 00:19:11,400 --> 00:19:14,920 Speaker 1: the prices distraction. It's a bait and switch. You get 359 00:19:14,920 --> 00:19:16,399 Speaker 1: sucked it in the price, then you realize it's the 360 00:19:16,400 --> 00:19:18,840 Speaker 1: life changing technology. But I was specifically, I was talking 361 00:19:18,840 --> 00:19:22,320 Speaker 1: about JP Morgan and one of the most influential, biggest banks, 362 00:19:22,320 --> 00:19:24,679 Speaker 1: oldest banks in the United States, and JP Jamie Diamond 363 00:19:24,720 --> 00:19:27,960 Speaker 1: had said that back in seen that it was a fraud, 364 00:19:28,000 --> 00:19:30,359 Speaker 1: it was a scam and if anybody at JP Morgan 365 00:19:30,480 --> 00:19:33,359 Speaker 1: was traded and he would fire them pretty harsh words. Um, 366 00:19:33,440 --> 00:19:35,560 Speaker 1: that was fighting part. And now they have decided to 367 00:19:35,640 --> 00:19:37,600 Speaker 1: join us. And now JP Morgan this week came out 368 00:19:37,640 --> 00:19:39,760 Speaker 1: with guidance said that they think bitcoin sprice could get 369 00:19:39,760 --> 00:19:43,399 Speaker 1: to a hundred and forty six thousand dollars. And what 370 00:19:43,440 --> 00:19:46,240 Speaker 1: they said is that because of its scarcity. We're talking 371 00:19:46,240 --> 00:19:50,880 Speaker 1: about the scarcity before the break. But they said that, um, 372 00:19:51,000 --> 00:19:54,720 Speaker 1: they think it's tracking like gold. It looks like gold, 373 00:19:55,960 --> 00:19:58,680 Speaker 1: and um they said it's acting more like a digital 374 00:19:58,760 --> 00:20:02,119 Speaker 1: gold than ever. So what happens is whenever there's a 375 00:20:02,119 --> 00:20:05,920 Speaker 1: new technology as humans, because as humans, we can't envision 376 00:20:05,920 --> 00:20:09,359 Speaker 1: the future. All humans can do is imagine a better 377 00:20:09,520 --> 00:20:11,800 Speaker 1: version of what we have today. So we have cars, 378 00:20:11,800 --> 00:20:14,879 Speaker 1: will have flying cars. Right, we can't imagine things in 379 00:20:14,880 --> 00:20:16,440 Speaker 1: the future because we don't have those those things that 380 00:20:16,520 --> 00:20:19,160 Speaker 1: this building blocks. And so what we do to try 381 00:20:19,160 --> 00:20:22,520 Speaker 1: to understand something new like this a new technology is 382 00:20:22,560 --> 00:20:25,280 Speaker 1: we try to um, we try to compare it to 383 00:20:25,359 --> 00:20:29,159 Speaker 1: something we know. That's all we can do. So UM. 384 00:20:29,240 --> 00:20:33,400 Speaker 1: When electricity came out, it's kind of like a digital candle. Right, 385 00:20:33,480 --> 00:20:35,280 Speaker 1: It's a way that I can have light, but I 386 00:20:35,280 --> 00:20:38,679 Speaker 1: don't need a fire to do it. Well, it was 387 00:20:38,760 --> 00:20:42,240 Speaker 1: that it was sure the electricity was a digital candle, 388 00:20:42,640 --> 00:20:44,720 Speaker 1: but why do we need that? I mean, candles have 389 00:20:44,800 --> 00:20:47,560 Speaker 1: been great for five thousand years for light. Candles are 390 00:20:47,600 --> 00:20:49,879 Speaker 1: even better because it's portable. I can carry a candle 391 00:20:49,920 --> 00:20:51,560 Speaker 1: around and I can replace it and I don't need 392 00:20:51,560 --> 00:20:54,479 Speaker 1: all these stupid wires and on and on and on. Right, um, 393 00:20:54,480 --> 00:20:57,200 Speaker 1: and electricity was a digital candle, but of course today 394 00:20:57,200 --> 00:21:01,040 Speaker 1: it's so much more. And um. Gold has also been 395 00:21:01,080 --> 00:21:03,960 Speaker 1: money for five thousand years, and gold has been great, 396 00:21:04,440 --> 00:21:07,119 Speaker 1: um because of many reasons. The money has to have 397 00:21:07,880 --> 00:21:15,560 Speaker 1: characteristics to make it good money, and needs to be portable, divisible, durable, things, acceptable, salable, etcetera. UM, 398 00:21:15,680 --> 00:21:17,720 Speaker 1: and and uh, so it's it's been good money for 399 00:21:17,760 --> 00:21:20,800 Speaker 1: five thousand years, but it's not really that good of 400 00:21:20,840 --> 00:21:22,800 Speaker 1: money today. As a matter of fact, it's not even 401 00:21:22,840 --> 00:21:29,480 Speaker 1: money today because it hasn't adapted. So, um, you're listening 402 00:21:29,480 --> 00:21:31,520 Speaker 1: to me over the internet or over the radio, and 403 00:21:31,600 --> 00:21:35,360 Speaker 1: I can't send you gold over the internet, right, there's 404 00:21:35,359 --> 00:21:37,960 Speaker 1: a problem with that. Um. And So while it's been 405 00:21:38,000 --> 00:21:40,400 Speaker 1: a good way to store wealth throughout the ages, and 406 00:21:40,600 --> 00:21:43,399 Speaker 1: part of partly because it's scarcity, um, it just it 407 00:21:43,480 --> 00:21:49,680 Speaker 1: hasn't kept up with the Internet age. And so um today, 408 00:21:49,760 --> 00:21:51,440 Speaker 1: over the last year or two, we've really seen most 409 00:21:51,440 --> 00:21:55,280 Speaker 1: investors are moving into bitcoin and not into gold. And 410 00:21:55,359 --> 00:21:58,080 Speaker 1: so um, that's exactly what JP Mo're gonna saying here. 411 00:21:58,359 --> 00:22:00,200 Speaker 1: And they said, the bank says bitcoin has increase even 412 00:22:00,280 --> 00:22:02,560 Speaker 1: looking like a digital alternative to gold in the eyes 413 00:22:02,720 --> 00:22:05,720 Speaker 1: of investors, right, and so that's what they're saying. Investors 414 00:22:05,760 --> 00:22:11,760 Speaker 1: are turning to gold. Um, it says, uh, they're preferring 415 00:22:11,840 --> 00:22:15,439 Speaker 1: to hold gold in their portfolios. Um. JP Morgan thinks bitcoin, 416 00:22:15,520 --> 00:22:18,160 Speaker 1: which is a scarce product, is is competing with gold 417 00:22:18,240 --> 00:22:23,400 Speaker 1: for investors attention as a hedge against inflation and that's 418 00:22:23,440 --> 00:22:25,720 Speaker 1: something that will rise even as inflation eats away at 419 00:22:25,760 --> 00:22:30,760 Speaker 1: the value of other assets. So we have inflation, massive inflation. 420 00:22:30,920 --> 00:22:33,639 Speaker 1: Prices are going up all over the place and in 421 00:22:33,720 --> 00:22:37,840 Speaker 1: a crazy fashion. Obviously, inflation hits each of us differently 422 00:22:38,000 --> 00:22:40,520 Speaker 1: depends on what you're buying, what your goods and baskets are. 423 00:22:40,600 --> 00:22:43,520 Speaker 1: But you know, gasoline is up fifty this year, stakes 424 00:22:43,600 --> 00:22:46,680 Speaker 1: up what this year? A new new homes or homes 425 00:22:46,760 --> 00:22:50,240 Speaker 1: or up this year. US use cars are up thirty 426 00:22:50,280 --> 00:22:53,439 Speaker 1: five percent this year. What that means that's inflation. Prices 427 00:22:53,480 --> 00:22:55,159 Speaker 1: are going up. And what that means is not that 428 00:22:55,240 --> 00:22:57,639 Speaker 1: just prices are going up, but your dollars are buying 429 00:22:57,800 --> 00:23:00,800 Speaker 1: less and less and less, and so we need a 430 00:23:00,880 --> 00:23:04,520 Speaker 1: hedge against that. Um My dollars are losing purchasing power 431 00:23:04,600 --> 00:23:06,320 Speaker 1: so fast. I need to hedge that. I need to say, 432 00:23:06,359 --> 00:23:08,080 Speaker 1: I need to guard myself against that. So I have 433 00:23:08,200 --> 00:23:10,680 Speaker 1: to put my dollars into another asset. That could be 434 00:23:10,760 --> 00:23:12,760 Speaker 1: the stock mark, it could be real estate, could be gold, 435 00:23:13,280 --> 00:23:14,920 Speaker 1: um or now it's bitcoin, and so we need to 436 00:23:14,960 --> 00:23:16,960 Speaker 1: hedge against that, we protect that. And they're saying that 437 00:23:17,119 --> 00:23:19,520 Speaker 1: investors are more and more and more turning to bitcoin 438 00:23:19,960 --> 00:23:23,560 Speaker 1: instead of going back to gold. Um. They said that 439 00:23:23,640 --> 00:23:27,200 Speaker 1: this quote the re emergence of inflation concerns among investors 440 00:23:28,200 --> 00:23:30,439 Speaker 1: appears to have renewed interest in the usage of bitcoin 441 00:23:30,880 --> 00:23:36,399 Speaker 1: as an inflation hedge end quote another quote, Bitcoin's allure 442 00:23:36,440 --> 00:23:39,399 Speaker 1: as an inflation hedge has perhaps been strengthened by the 443 00:23:39,600 --> 00:23:43,440 Speaker 1: failure of gold to respond in recent weeks to heighten 444 00:23:43,520 --> 00:23:48,200 Speaker 1: concerns over inflation and quote so um. What they're saying 445 00:23:48,280 --> 00:23:51,200 Speaker 1: is that gold has been the best hedge, the best 446 00:23:51,359 --> 00:23:55,439 Speaker 1: way to secure your wealth against inflation. Um, and now 447 00:23:55,520 --> 00:24:00,240 Speaker 1: it's not working. Inflation is running at a thirteen year high. 448 00:24:00,280 --> 00:24:02,440 Speaker 1: As a matter of fact, it's higher than that. We're 449 00:24:02,440 --> 00:24:05,800 Speaker 1: seeing levels of inflation prices increasing that we haven't seen 450 00:24:05,840 --> 00:24:09,159 Speaker 1: since the seventies. So um, not just thirteen years, and 451 00:24:09,200 --> 00:24:11,720 Speaker 1: it's decades. I mean, prices are going up so fast. 452 00:24:11,800 --> 00:24:15,879 Speaker 1: And your leaders, uh you know, Biden and men, they 453 00:24:15,960 --> 00:24:18,760 Speaker 1: want to tell you that it's transitory, it's going away, 454 00:24:18,840 --> 00:24:22,679 Speaker 1: it's temporary, don't worry about it, right Like, Uh, it's uh, 455 00:24:22,880 --> 00:24:25,480 Speaker 1: it's because supply chains are breaking down, and once supply 456 00:24:25,640 --> 00:24:28,240 Speaker 1: chains get going again, then then prices will get back 457 00:24:28,240 --> 00:24:33,320 Speaker 1: to normal. No, that's not that's not the truth. One 458 00:24:33,359 --> 00:24:38,159 Speaker 1: of my favorite economists, Milton Friedman, said that inflation is 459 00:24:38,359 --> 00:24:43,560 Speaker 1: always and everywhere a monetary phenomenon. It can only be 460 00:24:43,960 --> 00:24:48,360 Speaker 1: created by money printing. That's it. So when you think 461 00:24:48,400 --> 00:24:50,960 Speaker 1: of the money supply like a balloon, um as I 462 00:24:51,119 --> 00:24:53,440 Speaker 1: fill up the phillip the money supplies, I filed the balloon. 463 00:24:53,560 --> 00:24:56,200 Speaker 1: It inflates. It caused inflation. I increased the money supply. 464 00:24:56,280 --> 00:24:59,560 Speaker 1: And what happens, is what everybody hopes happens, is that 465 00:24:59,760 --> 00:25:01,440 Speaker 1: if we print a bunch of money and give it 466 00:25:01,440 --> 00:25:03,560 Speaker 1: to everybody, we send out stemmy checks to everybody, then 467 00:25:03,560 --> 00:25:09,240 Speaker 1: everybody's rich. Right, But no, money isn't Money is not wealth. 468 00:25:09,440 --> 00:25:12,720 Speaker 1: Wealth is goods and services. If I have a bunch 469 00:25:12,720 --> 00:25:14,760 Speaker 1: of money. If I'm stuck on a deserted island, and 470 00:25:14,800 --> 00:25:16,840 Speaker 1: I got a billion dollars in a briefcase, but I 471 00:25:16,960 --> 00:25:19,480 Speaker 1: got no boat, no phone to call for help, I 472 00:25:19,520 --> 00:25:22,679 Speaker 1: got no food, I'm not rich. That billion dollars does 473 00:25:22,800 --> 00:25:26,200 Speaker 1: me no good, right, I have no goods and services 474 00:25:26,280 --> 00:25:30,240 Speaker 1: to buy with that. And so if we magically out 475 00:25:30,240 --> 00:25:33,240 Speaker 1: of magic wand and overnight I put a trillion dollars 476 00:25:33,240 --> 00:25:35,119 Speaker 1: into every single person in the United States bank account, 477 00:25:35,119 --> 00:25:36,320 Speaker 1: you woke up in the morning and everyone had a 478 00:25:36,320 --> 00:25:38,280 Speaker 1: trillion dollars in the main account. Oh my gosh, we're 479 00:25:38,320 --> 00:25:41,480 Speaker 1: all rich. We're not. Really. All we did was increase 480 00:25:41,520 --> 00:25:45,000 Speaker 1: the money supply. Now we have more money chasing the 481 00:25:45,160 --> 00:25:47,280 Speaker 1: same amount of goods and services. We didn't increase the 482 00:25:47,320 --> 00:25:50,040 Speaker 1: goods and services. And when we have more money chasing 483 00:25:50,119 --> 00:25:52,439 Speaker 1: the same amount of goods and services, guess what happens. 484 00:25:52,760 --> 00:25:56,320 Speaker 1: Prices go up. So you're even though the money in 485 00:25:56,440 --> 00:26:00,280 Speaker 1: your account went up, you can't buy any more goods 486 00:26:00,320 --> 00:26:04,080 Speaker 1: and services, so you're not getting more wealthy, basically what 487 00:26:04,119 --> 00:26:08,159 Speaker 1: we're talking about, and so we need to protect uh 488 00:26:09,400 --> 00:26:12,840 Speaker 1: the purchasing power what we can buy with it, and 489 00:26:13,040 --> 00:26:15,040 Speaker 1: be back to what Milton Freeman said, it's always a 490 00:26:15,040 --> 00:26:18,920 Speaker 1: monetary phenomenon because when they increase the money supply, prices 491 00:26:19,080 --> 00:26:21,720 Speaker 1: go up. That's why it's always a monetary phenomenon. So 492 00:26:21,800 --> 00:26:24,200 Speaker 1: don't believe them when they tell you it's supplies James 493 00:26:24,280 --> 00:26:27,960 Speaker 1: going back to normal. No, when they stop printing money, maybe, 494 00:26:28,960 --> 00:26:32,439 Speaker 1: but they can't and they won't, and inflation is going 495 00:26:32,480 --> 00:26:34,680 Speaker 1: to continue getting worse and worse and worse, which is 496 00:26:34,760 --> 00:26:36,920 Speaker 1: why you need to be more and more concerned with 497 00:26:37,080 --> 00:26:40,320 Speaker 1: having an inflation hedge, which, as JP Morgan says, gold 498 00:26:40,440 --> 00:26:43,840 Speaker 1: has lost that. Um it's failed to respond to inflation, 499 00:26:44,000 --> 00:26:49,959 Speaker 1: and that's why people are running to bitcoin. So anyway, UM, 500 00:26:50,720 --> 00:26:53,840 Speaker 1: gold is about a thirteen trillion dollar market cap. Bitcoin 501 00:26:53,920 --> 00:26:56,800 Speaker 1: is about a one trillion dollar market cap. JP Morgan 502 00:26:56,880 --> 00:27:00,760 Speaker 1: and City Bank both say that Bitcoin could overtake gold again. 503 00:27:00,800 --> 00:27:02,960 Speaker 1: It's a thirteen choining market, which means bitcoin could go 504 00:27:03,040 --> 00:27:08,560 Speaker 1: up thirteen times from here. Wow, it's pretty amazing. But 505 00:27:08,720 --> 00:27:12,320 Speaker 1: that's not all. There's even bigger price targets and that 506 00:27:12,359 --> 00:27:15,240 Speaker 1: I want to tell you what those are, um, because 507 00:27:16,640 --> 00:27:18,280 Speaker 1: you might not believe it, but I'm gonna break it 508 00:27:18,320 --> 00:27:20,560 Speaker 1: down for you so you understand where we're going and 509 00:27:20,600 --> 00:27:22,080 Speaker 1: again and give you the information you need so you 510 00:27:22,160 --> 00:27:26,000 Speaker 1: can hold through these markets, hold on with those strong hands. 511 00:27:26,440 --> 00:27:28,600 Speaker 1: By the way, you are listening to the Mark Mass Show, 512 00:27:30,240 --> 00:27:33,359 Speaker 1: I'm bringing you the latest information on bitcoin, cryptocurrencies and 513 00:27:33,520 --> 00:27:38,199 Speaker 1: this decentralized revolution, so you have the asymmetric information. That's 514 00:27:38,200 --> 00:27:41,120 Speaker 1: information most people don't have, so you can take advantage 515 00:27:41,119 --> 00:27:44,200 Speaker 1: of this asymmetric opportunity. What I believe in my I 516 00:27:44,240 --> 00:27:46,840 Speaker 1: don't know. Shoot, I'm old now twenty years, twenty five 517 00:27:46,920 --> 00:27:49,560 Speaker 1: years of full time investing experience. I've never seen an 518 00:27:49,600 --> 00:27:52,680 Speaker 1: opportunity like this ever. Um, let me listen to Mark 519 00:27:52,760 --> 00:27:56,119 Speaker 1: Ma Show and I'm gonna be right back. All right, 520 00:27:56,160 --> 00:27:58,000 Speaker 1: welcome back. You are listening to the Markma Show. And 521 00:27:58,040 --> 00:28:01,400 Speaker 1: we're talking about bitcoin, talking about the cryptocurrency boom. We're 522 00:28:01,440 --> 00:28:04,600 Speaker 1: talking about this decentralized revolution that's changing the world right 523 00:28:04,720 --> 00:28:07,359 Speaker 1: before our very very eyes. And I spent a lot 524 00:28:07,359 --> 00:28:09,920 Speaker 1: of time before the break talking about the price. Um, 525 00:28:10,280 --> 00:28:12,680 Speaker 1: it's a distraction, but it's still important. It's a it's 526 00:28:12,680 --> 00:28:15,199 Speaker 1: a bait and switch. We were all interested in the price. Um. 527 00:28:15,320 --> 00:28:17,119 Speaker 1: But but maybe we shouldn't be so interested in the 528 00:28:17,160 --> 00:28:19,600 Speaker 1: price in the way that we think. Um. You know, 529 00:28:20,359 --> 00:28:22,840 Speaker 1: we can see other currencies around the world just blowing 530 00:28:22,920 --> 00:28:26,000 Speaker 1: up meaning uh, meaning just becoming worthless right before our 531 00:28:26,040 --> 00:28:28,360 Speaker 1: very eyes. It's happening all over the world as I'm 532 00:28:28,400 --> 00:28:31,480 Speaker 1: talking to you at this very moment. Uh. There's I 533 00:28:31,560 --> 00:28:34,000 Speaker 1: think half a dozen countries that are seeing double digit inflation. 534 00:28:34,680 --> 00:28:37,159 Speaker 1: Lebanon seeing their current and entire currency collapse in just 535 00:28:37,240 --> 00:28:40,000 Speaker 1: a few months. Of course, Venezuela, the currency, you don't 536 00:28:40,000 --> 00:28:42,560 Speaker 1: even pick it up off the ground anymore, and so, um, 537 00:28:42,720 --> 00:28:46,360 Speaker 1: you know what a hundred dollars used to be a 538 00:28:46,440 --> 00:28:47,840 Speaker 1: lot of money, and then there was a thousand and 539 00:28:47,960 --> 00:28:49,440 Speaker 1: a million, and then a billion, and next you know, 540 00:28:49,600 --> 00:28:51,520 Speaker 1: trillion dollars doesn't even buy what a what a hundred 541 00:28:51,520 --> 00:28:54,320 Speaker 1: dollars used to buy. And so it's not it's not 542 00:28:54,440 --> 00:28:57,280 Speaker 1: really about making money. You know. One thing that's important 543 00:28:57,320 --> 00:29:00,400 Speaker 1: to understand is that if well, I don't want to 544 00:29:00,400 --> 00:29:03,720 Speaker 1: say if I should say when when bitcoin gets to, 545 00:29:04,160 --> 00:29:08,200 Speaker 1: you know, a million dollars per bitcoin. Unfortunately, a million 546 00:29:08,240 --> 00:29:12,600 Speaker 1: dollars just won't buy you that much stuff anymore. And so, um, 547 00:29:13,040 --> 00:29:15,160 Speaker 1: what you need to do is start kind of getting 548 00:29:15,320 --> 00:29:18,160 Speaker 1: the idea of thinking of everything in dollars terms out 549 00:29:18,160 --> 00:29:20,440 Speaker 1: of your head and start thinking about things in terms 550 00:29:20,520 --> 00:29:22,840 Speaker 1: of purchasing parkers at the end of the day. Um, 551 00:29:23,160 --> 00:29:24,640 Speaker 1: if you're with me, before the break, I was talking 552 00:29:24,680 --> 00:29:28,840 Speaker 1: about how money is not it's not wealth. Money buys 553 00:29:28,960 --> 00:29:31,520 Speaker 1: us goods and services. Goods and services of wealth, not 554 00:29:31,640 --> 00:29:33,120 Speaker 1: the money. The money is just a tool to to 555 00:29:33,200 --> 00:29:36,200 Speaker 1: acquire those things. And so when you just price things 556 00:29:36,240 --> 00:29:39,360 Speaker 1: in dollars, uh, you're not really seeing the whole picture. 557 00:29:39,440 --> 00:29:41,120 Speaker 1: What you're trying to see is how much goods and 558 00:29:41,200 --> 00:29:44,520 Speaker 1: services can I buy? And so that's that's really the thing. 559 00:29:44,640 --> 00:29:46,960 Speaker 1: And so um I was talking about before the break. 560 00:29:47,040 --> 00:29:50,880 Speaker 1: JP Morgan says that bitcoin could overtake gold, and they 561 00:29:50,920 --> 00:29:52,800 Speaker 1: think you could get to a hundred hundred forty six 562 00:29:52,800 --> 00:29:55,080 Speaker 1: thousand dollars here in the short term. That's a hundred 563 00:29:55,760 --> 00:29:58,640 Speaker 1: increase from here today. If it overtakes gold, golds about 564 00:29:58,640 --> 00:30:01,200 Speaker 1: a thirteen shillion dollar market cap, it's about a thirteen 565 00:30:01,520 --> 00:30:04,120 Speaker 1: x from where we are today, which is amazing. Um, 566 00:30:04,640 --> 00:30:06,680 Speaker 1: we could even go up higher than that. Um, what 567 00:30:06,800 --> 00:30:08,640 Speaker 1: we've seen I was, I was kind of referencing this 568 00:30:08,680 --> 00:30:10,800 Speaker 1: Gandhi quote. First they ignore you, then they laugh at you, 569 00:30:10,880 --> 00:30:13,600 Speaker 1: then they fight you, then they join you. And we've 570 00:30:13,680 --> 00:30:16,080 Speaker 1: gone through all those stages with bitcoin. It was ignored, 571 00:30:16,160 --> 00:30:18,040 Speaker 1: it was laughed at, it was it was fought, and 572 00:30:18,120 --> 00:30:21,480 Speaker 1: now it's being accepted. And so um, what we can 573 00:30:21,520 --> 00:30:24,480 Speaker 1: see is JP Morgan obviously is accepting it. We're seeing 574 00:30:24,880 --> 00:30:26,960 Speaker 1: at the point now we're seeing, you know, obviously the 575 00:30:27,000 --> 00:30:29,040 Speaker 1: people have accepted it, the banks have accepted it, and 576 00:30:29,120 --> 00:30:32,240 Speaker 1: now we're seeing fortune companies accepted as their reserve like 577 00:30:32,400 --> 00:30:36,160 Speaker 1: micro strategy. And now we're seeing countries, um accepted, like 578 00:30:36,400 --> 00:30:39,440 Speaker 1: El Salvador. And so we're at that point where it's 579 00:30:39,480 --> 00:30:42,960 Speaker 1: just blowing up. And I know, you know, one of 580 00:30:43,040 --> 00:30:45,800 Speaker 1: the biggest objections to this is that, ah, the governments 581 00:30:45,840 --> 00:30:47,800 Speaker 1: are just gonna make it illegal. They're just gonna make 582 00:30:47,840 --> 00:30:51,200 Speaker 1: it illegal. Well, there's a few things that I would 583 00:30:51,200 --> 00:30:55,320 Speaker 1: say to that. One I would say is that that 584 00:30:55,440 --> 00:30:57,920 Speaker 1: sounds like when I hear that, all I hear is 585 00:30:58,200 --> 00:31:03,880 Speaker 1: man man mah, I just hear sheep talking. The people 586 00:31:04,040 --> 00:31:06,840 Speaker 1: run the government are supposed to the government is therefore 587 00:31:06,880 --> 00:31:09,520 Speaker 1: the people. Now, it's not being run like that today, 588 00:31:09,680 --> 00:31:11,640 Speaker 1: but that's what it's supposed to be. And I can 589 00:31:11,720 --> 00:31:14,680 Speaker 1: tell you one thing. If a billion people do not 590 00:31:14,920 --> 00:31:17,760 Speaker 1: want bitcoin to be illegal, then it will not be 591 00:31:18,040 --> 00:31:23,720 Speaker 1: illegal period. So anyone who's just like the government's just 592 00:31:23,760 --> 00:31:26,360 Speaker 1: gonna take it away from us, Um, you're just you're 593 00:31:26,360 --> 00:31:29,080 Speaker 1: already a victim, and uh, maybe bitcoin is not right 594 00:31:29,120 --> 00:31:31,000 Speaker 1: for you. You're gonna buy it later when when when 595 00:31:31,400 --> 00:31:34,880 Speaker 1: when the price is hire? But um, in more seriousness, 596 00:31:35,040 --> 00:31:37,600 Speaker 1: well that is kind of serious. But um, you know 597 00:31:37,760 --> 00:31:40,520 Speaker 1: I've gone on many times talking about why it won't 598 00:31:40,560 --> 00:31:42,720 Speaker 1: be made illegal, why they can't make it illegal. I 599 00:31:42,800 --> 00:31:45,240 Speaker 1: think there's there's several reasons. If you've been with me 600 00:31:45,440 --> 00:31:47,400 Speaker 1: every week, I'm not gonna dive super into this deep 601 00:31:47,480 --> 00:31:51,720 Speaker 1: this week. But we had the first bitcoin et F 602 00:31:51,960 --> 00:31:56,000 Speaker 1: become approved, and so I think that was like, I mean, 603 00:31:56,080 --> 00:31:57,920 Speaker 1: if you still think it's gonna become illegal after that, 604 00:31:58,160 --> 00:32:00,240 Speaker 1: I mean, you just don't understand how the fun antial 605 00:32:00,240 --> 00:32:03,200 Speaker 1: markets in and the government work together. I think that 606 00:32:03,440 --> 00:32:05,240 Speaker 1: was basically sealed the deal. It's not going to be 607 00:32:05,280 --> 00:32:09,840 Speaker 1: made illegal right now. Approximately about fifty million Americans own 608 00:32:09,880 --> 00:32:12,560 Speaker 1: bitcoin at this point, um, which is a big number. 609 00:32:13,000 --> 00:32:14,640 Speaker 1: And I said, you know, a billion people don't want 610 00:32:14,640 --> 00:32:16,600 Speaker 1: bitcoin to be illegal, but a fifty million people don't 611 00:32:16,640 --> 00:32:19,000 Speaker 1: want that to be illegal in the United States. I mean, 612 00:32:19,080 --> 00:32:21,760 Speaker 1: it's not going to be illegal. We have three thirty 613 00:32:21,800 --> 00:32:24,920 Speaker 1: million people, so I mean that's a big chunk of 614 00:32:25,000 --> 00:32:28,239 Speaker 1: the population that own it. But more than that, um, 615 00:32:29,680 --> 00:32:32,600 Speaker 1: is that we've reached this level of entrenchment in politics, 616 00:32:33,240 --> 00:32:37,160 Speaker 1: and so you know, unfortunately, I'm not a big fan 617 00:32:37,240 --> 00:32:38,920 Speaker 1: of the political system that we have today, or the 618 00:32:39,040 --> 00:32:41,680 Speaker 1: or the financial system for that matter. You know, a 619 00:32:41,760 --> 00:32:44,200 Speaker 1: lot of people think that we have we're in a 620 00:32:44,280 --> 00:32:50,040 Speaker 1: capitalist capitalism, capitalist society. Capitalism has failed us. Capitalism is dangerous, 621 00:32:50,080 --> 00:32:53,000 Speaker 1: Capitalism is slavery. Blah blah blah blah blah. Well, we 622 00:32:53,400 --> 00:32:56,200 Speaker 1: don't have a capitalist society. We don't have a capitalist 623 00:32:56,240 --> 00:33:00,760 Speaker 1: system at all. Um. Capitalism means that I have the 624 00:33:01,560 --> 00:33:06,520 Speaker 1: freedom to acquire capital and direct it as I see fit. 625 00:33:07,560 --> 00:33:10,160 Speaker 1: UM in a free market, a free exchange and in 626 00:33:10,240 --> 00:33:13,120 Speaker 1: a free market, UM, we can choose to do business 627 00:33:13,160 --> 00:33:16,000 Speaker 1: together or not. If if I'm if I own a 628 00:33:16,080 --> 00:33:18,240 Speaker 1: business and I want to hire you for four dollars 629 00:33:18,280 --> 00:33:20,400 Speaker 1: an hour, you have the right to either work for 630 00:33:20,440 --> 00:33:22,800 Speaker 1: four dollars an hour or not. I'm not forcing you, 631 00:33:23,120 --> 00:33:24,560 Speaker 1: And if you don't take it, neither of us or 632 00:33:24,560 --> 00:33:27,040 Speaker 1: any worse off. Now, of course, I'll never find anybody 633 00:33:27,120 --> 00:33:28,320 Speaker 1: to work for four bucks an hour, and so I 634 00:33:28,400 --> 00:33:29,640 Speaker 1: have to pay more. And so that's kind of how 635 00:33:29,680 --> 00:33:32,160 Speaker 1: it works. It's like this free exchange UM. In in 636 00:33:32,320 --> 00:33:34,760 Speaker 1: that type of environment, In a free market environment, both 637 00:33:34,840 --> 00:33:37,280 Speaker 1: people think that they are getting the upper hand and 638 00:33:37,320 --> 00:33:39,920 Speaker 1: a deal. If I'm trading you one asset for another, 639 00:33:40,360 --> 00:33:42,480 Speaker 1: both of us have to think we're getting the better deal. 640 00:33:42,760 --> 00:33:45,880 Speaker 1: Otherwise the deal wouldn't happen because it's free. We don't 641 00:33:45,880 --> 00:33:48,959 Speaker 1: have that type of business, Tom, we have a crony system. 642 00:33:49,240 --> 00:33:52,080 Speaker 1: We have a system where the government and big business 643 00:33:52,160 --> 00:33:56,440 Speaker 1: work together and put past laws and create regulations that 644 00:33:57,400 --> 00:34:01,760 Speaker 1: entrench their positions and get unfair advantages and unfair um, 645 00:34:01,960 --> 00:34:04,800 Speaker 1: you know, unfair competition over the people, and the government 646 00:34:04,880 --> 00:34:06,840 Speaker 1: forces things. Instead of being a win win we have 647 00:34:07,000 --> 00:34:09,120 Speaker 1: women forces things. Instead of being a win win, we 648 00:34:09,200 --> 00:34:12,440 Speaker 1: have a win loose scenario. Um. But it is what 649 00:34:12,520 --> 00:34:14,720 Speaker 1: it is, and that's where rats worked together. You understand 650 00:34:14,760 --> 00:34:18,279 Speaker 1: that big businesses lobby the government. They spend a lot 651 00:34:18,360 --> 00:34:20,640 Speaker 1: of money to get politicians to vote the way they 652 00:34:20,680 --> 00:34:21,960 Speaker 1: want them to vote. As a matter of fact, most 653 00:34:22,000 --> 00:34:23,920 Speaker 1: of the bills that get put forth aren't written by 654 00:34:24,080 --> 00:34:26,920 Speaker 1: the actual politicians. They're written by the lobby groups. And 655 00:34:27,080 --> 00:34:29,919 Speaker 1: if you understand that, um, one of the biggest lobby 656 00:34:29,960 --> 00:34:33,640 Speaker 1: groups is the financial industry, Wall Street, etcetera. UM, And 657 00:34:33,719 --> 00:34:37,040 Speaker 1: then you understand that Wall Street, uh, as we just 658 00:34:37,080 --> 00:34:39,879 Speaker 1: talked about JP Morgan is in on bitcoin. They've they've 659 00:34:39,880 --> 00:34:42,400 Speaker 1: spent billions and billions of dollars to bring bitcoin services in. 660 00:34:43,719 --> 00:34:45,440 Speaker 1: So so the banks and the Wall Street are in 661 00:34:45,520 --> 00:34:48,240 Speaker 1: on bitcoin. They spent billions of dollars to get into bitcoin. 662 00:34:48,960 --> 00:34:51,840 Speaker 1: The financial industry lobbies the government. The lobbyists write the 663 00:34:51,840 --> 00:34:54,160 Speaker 1: bills and give them to the governor's a sponsor. So 664 00:34:54,560 --> 00:34:57,879 Speaker 1: how would the government make it illegal when when they're 665 00:34:57,880 --> 00:35:00,279 Speaker 1: being lollied by the financial institutions and the fincances don't 666 00:35:00,320 --> 00:35:05,040 Speaker 1: want it to be illegal. He's starting to get the point, right. Uh. 667 00:35:05,640 --> 00:35:08,200 Speaker 1: So the financial institution would just lose so much money, 668 00:35:08,239 --> 00:35:10,560 Speaker 1: The fifty million Americans would lose all their well, you know, 669 00:35:10,640 --> 00:35:12,680 Speaker 1: the wealth they put into it. They're gonna stand up 670 00:35:12,680 --> 00:35:14,080 Speaker 1: and fight, and so I just don't see that happening. 671 00:35:14,280 --> 00:35:17,279 Speaker 1: And even more than that, back to kind of the 672 00:35:17,320 --> 00:35:18,600 Speaker 1: point that I was going to make, is that we've 673 00:35:18,640 --> 00:35:21,720 Speaker 1: also reached a level of entrenchment with the lawmakers themselves. 674 00:35:21,800 --> 00:35:24,000 Speaker 1: And so we're at a point today where we see uh, 675 00:35:24,239 --> 00:35:28,480 Speaker 1: dozens and dozens of congress people, congressmen women, uh and 676 00:35:29,040 --> 00:35:33,040 Speaker 1: senators that are bitcoiners that own bitcoin. As a matter 677 00:35:33,040 --> 00:35:36,120 Speaker 1: of fact, the head of the SEC, Gary Ginsler, taught 678 00:35:36,200 --> 00:35:40,200 Speaker 1: bitcoin classes at m I. T Patrick McHenry, Republican head 679 00:35:40,200 --> 00:35:45,120 Speaker 1: of the Financial Service Committee. There's a bitcoiner, um and um, 680 00:35:46,239 --> 00:35:51,600 Speaker 1: we have another bitcoin freedom fighter, Cynthia Loomis, who's also 681 00:35:51,719 --> 00:35:56,040 Speaker 1: a big time bitcoiner she's a Republican senator from Wyoming. 682 00:35:56,440 --> 00:35:59,360 Speaker 1: She's a rancher, and she's a bitcoin hoddler. She's a 683 00:35:59,440 --> 00:36:02,919 Speaker 1: hoddler stands on for like holding on for dear life. 684 00:36:03,600 --> 00:36:07,239 Speaker 1: And so she's fighting for uh, for the right, you know, 685 00:36:07,400 --> 00:36:11,759 Speaker 1: to have bitcoin. But not just that. She wants um 686 00:36:12,600 --> 00:36:18,239 Speaker 1: her state of Wyoming to benefit from bitcoin. And it's 687 00:36:18,280 --> 00:36:21,319 Speaker 1: not just her. Texas is on board with this, uh, 688 00:36:21,560 --> 00:36:24,400 Speaker 1: Florida's on board with this, and it's taking off, and 689 00:36:24,480 --> 00:36:27,320 Speaker 1: so we have reached a level of entrenchment. UM. I 690 00:36:27,480 --> 00:36:29,520 Speaker 1: just don't see how you put that genie back in 691 00:36:29,600 --> 00:36:32,360 Speaker 1: the bottle. Um. Anyone who thinks that it's being is 692 00:36:32,360 --> 00:36:35,840 Speaker 1: going to be made illegal is missing the point. And so, 693 00:36:36,320 --> 00:36:37,799 Speaker 1: you know, to kind of wrap this up, I would 694 00:36:37,840 --> 00:36:40,520 Speaker 1: just say that, you know, back in when I started 695 00:36:40,520 --> 00:36:43,400 Speaker 1: buying bitcoin, of still still dangerous, it's still risky, but 696 00:36:43,480 --> 00:36:46,000 Speaker 1: today the biggest risk of it being made illegal is 697 00:36:46,920 --> 00:36:49,879 Speaker 1: it's probable, but it's it's it's hardly probable. The chance 698 00:36:49,920 --> 00:36:52,239 Speaker 1: of it's very slim. You're at the point in time 699 00:36:52,239 --> 00:36:53,880 Speaker 1: where you have almost no risk and you still have 700 00:36:53,960 --> 00:36:56,840 Speaker 1: an easy ten x upside ahead of you. The greatest, 701 00:36:56,920 --> 00:36:59,399 Speaker 1: greatest asymmetric trade I've ever seen in my entire career. 702 00:36:59,440 --> 00:37:01,520 Speaker 1: I think that we'll ever stay in our life, and 703 00:37:01,840 --> 00:37:03,759 Speaker 1: that's what I'm just trying to help you understand each 704 00:37:03,760 --> 00:37:06,000 Speaker 1: and every week at at a deeper level and more 705 00:37:06,040 --> 00:37:08,480 Speaker 1: importantly stay into that. Of course you're listening to The 706 00:37:08,520 --> 00:37:11,640 Speaker 1: Mark Mass Show. If you didn't already know, well, I'm just, 707 00:37:11,800 --> 00:37:14,680 Speaker 1: you know, trying to help you navigate bitcoin and cryptocurrencies 708 00:37:14,680 --> 00:37:17,160 Speaker 1: in this decentralized revolution. That the largest opportunity that you 709 00:37:17,200 --> 00:37:21,279 Speaker 1: will ever see. If you get this right, it's generational wealth. 710 00:37:21,320 --> 00:37:25,200 Speaker 1: It'll change your family lineage, will change your legacy. The 711 00:37:25,239 --> 00:37:27,560 Speaker 1: Mark Mass Show. Thanks for joining